Commercial paper that is exempt from registration requirements has a maximum maturity of how many days?

Commercial paper that is exempt from registration requirements is limited to a maximum maturity of 270 days. This regulation is set by the Securities and Exchange Commission (SEC) under Rule 144A, which allows certain financial instruments, including commercial paper, to bypass the usual registration process if they meet specific criteria. One of these criteria is the maturity limit of 270 days, ensuring that these instruments are short-term in nature and pose minimal risk.

This exemption is designed to facilitate the issuance of short-term financing by companies, allowing them to raise capital quickly and efficiently without the burdensome process of registration. Therefore, when identifying the maturity limit for exempt commercial paper, 270 days is the correct timeframe that adheres to regulatory guidelines established for such financial instruments.